Flare Unveils FXRP Spot Trading on Hyperliquid, Boosting XRP DeFi

Flare has launched FXRP spot trading on Hyperliquid, enabling direct XRP exposure and cross-chain DeFi utility for the first time on the platform, with a dedicated bridge and strong demand for FXRP.

Flare has introduced FXRP, a wrapped version of XRP, on Hyperliquid, enabling the first-ever XRP spot trading on the platform. Previously, Hyperliquid only offered XRP perpetual futures due to XRP's lack of EVM compatibility. FXRP, issued via Flare’s FAssets system and deployed as a LayerZero Omnichain Fungible Token, allows seamless movement across chains and can be redeemed for native XRP on the XRP Ledger. The FXRP/USDC trading pair brings direct spot exposure to Hyperliquid’s on-chain orderbook, expanding XRP’s utility in decentralized finance. Flare plans to launch a dedicated FXRP bridge for one-click withdrawals back to the XRP Ledger. This integration eliminates the need for complex derivatives or centralized bridges, enhances asset interoperability, and supports advanced trading strategies. The move is part of Flare’s broader XRPFi strategy to make FXRP the preferred XRP representation in DeFi, with strong demand already seen for FXRP in lending, staking, and liquidity protocols.